Stock Market & Financial Investment News

Aurizon Mines has entered into confidentiality agreements with several partiesThe Board of Directors of Aurizon Mines mailed materials to all shareholders recommending that shareholders ratify the Shareholder Rights Plan that the Board of Directors adopted on January 22. The Rights Plan is intended to provide the Board of Directors with adequate time to identify and develop value-enhancing alternatives, if appropriate, to any unsolicited take-over bid, including the unsolicited offer made by Alamos Gold on January 14. George Brack, Chair of the Special Committee of the Aurizon Board of Directors said: "A number of parties have entered into confidentiality agreements with the Company and are in the process of conducting diligence and making site visits. The Shareholder Rights Plan is important to ensure the Board has adequate time to consider these and all other potential alternatives to the Alamos offer. The Rights Plan also ensures that all shareholders receive equal treatment in the event of an unsolicited offer. The Board of Directors did not adopt the Rights Plan to prevent a take-over of the Company, to secure the continuance of management or the directors or to deter fair offers for Aurizon shares. We therefore recommend that shareholders return the proxy that has been mailed to them, and approve the Rights Plan."